Aideen Hayden (Labour) | Oireachtas source

I apologise for my enforced absence. In regard to the buy to let loan book versus principle dwelling houses, it is not unusual in Germany to offer intergenerational mortgages. Furthermore, many people will trade down when they come to the term of their mortgages. I think the bank should re-evaluate the interest-only option in situations where people are in positive equity. There is also an option of the family helping out at some point in the future. It is intensely distressing for people to be forced to sell their homes, but they are often happy to do so later in life.

In regard to the standard financial statement, we engaged with a number of organisations dealing with mortgage arrears, including FLAC, MABS and the Irish Mortgage Holders Organisation. MABS was particularly critical of the standard financial statement because it found that in 40% of cases where it had used its expert knowledge to complete statements on behalf of clients, they were overturned by the lender because, reading between the lines, it thought MABS was being too generous. The Insolvency Service sets out minimum guidelines for living expenses.

Does Permanent TSB abide by those guidelines or are there situations where it accepts lower amounts than are set out in those guidelines? If they cannot answer the question, I would be happy for them to come back to the committee with an answer.